As of the morning of April 21, 74 brokerage firms have released their business results for the first quarter of 2024.
The title of the highest profit in the fourth quarter of 2023 belongs to Techcom Securities (TCBS) with a pre-tax profit of VND 1,160 billion, a strong growth of 159% compared to the first quarter of 2023.
In the third quarter of 2023, this was also the company with the highest profit in the industry. In the fourth quarter of 2023, VNDIRECT Securities was the company with the highest profit before tax. However, in this period, VNDIRECT has dropped to the third position with a pre-tax profit of VND 767 billion, more than 4 times higher than the same period last year.
With a more “modest” growth rate of 53% is SSI Securities. The profit in the first quarter reached VND 900 billion, ranking second in the brokerage industry profit ranking. Meanwhile, the company owning 1/5 of HoSE brokerage market share, VPS Securities, recorded a pre-tax profit in the first quarter, up 332% year-on-year to VND 631 billion.
The “multiple” growth rate is relatively common in the leading group, such as SHS Securities (pre-tax profit of VND 444 billion, up 767%), HSC Securities (pre-tax profit of VND 346 billion, up 124%), Thien Viet Securities (pre-tax profit of VND 246 billion, up 650%).
There are even some brokerage companies that have achieved four-digit percentage growth, including VIX Securities with first-quarter pre-tax profit growth of 1,597% year-on-year to VND 202 billion or Tri Viet Securities (TVB) with a nearly 29-fold increase in first-quarter profit, from VND 2 billion to VND 48 billion in this period.
Especially surprising is National Securities (NSI) with a pre-tax profit of VND 6 billion in the first quarter of this year, an increase of 26,200% compared to the profit of only over VND 200 million in the same period of 2023.
In addition, many brokerage firms have shifted from losses in the same period last year to profits in the first quarter of this year, such as Everest Securities (VND 19 billion pre-tax profit, VND 44 billion loss in the first quarter of 2023), Pinetree Securities ( VND 12 billion pre-tax profit, VND 3 billion loss in the first quarter of 2023),…
Not very positive, there are still some brokerage firms reporting declining profits compared to the same period last year, such as Agribank Securities (Agriseco) with a pre-tax profit of VND 44 billion, down 20%, An Binh Securities with a pre-tax profit of VND 21 billion, down 15%, Phu Hung Securities (PHS) with a pre-tax profit of VND 16 billion, down 37%.
Wall Street Securities (WSS) was the biggest loser in the first quarter of 2024. The loss reached VND 21 billion, the only name that lost tens of billions.
